The tax impact of an inheritance will generally depend on the nature of the asset and the tax characteristics of the beneficiary. Learn more...
Learn about Xero "Tap to Pay" - The Smart way to get your customers to pay you on the spot using just your phone and Xero!
Learn about "Just Ask Xero" (JAX) - a new AI-driven tool developed by Xero, designed to help small business owners streamline their accounting tasks.
Breaking up is hard to do. Beyond the emotional and financial turmoil divorce creates, there are a number of business and tax related issues that need to be resolved.
ATO data analysis has revealed that over 16,500 self managed superannuation funds (SMSFs) have reported assets as having the same value for three consecutive years. With many of these assets residential or commercial Australian property, you can forgive the ATO for being incredulous.
The Treasurer is promising that inflation will decline by 0.75% as a direct result of the 2024-25 Federal Budget initiatives including energy relief for all households, a boost to Commonwealth Rent Assistance, and the freezing of the maximum co-payment on the Pharmaceutical Benefits Scheme.
The Government has announced that from 1 July 2025, the 15% concessional tax rate applied to future earnings for total superannuation balances (TSB) above $3 million will increase from 15% to 30%.
The redesigned Stage 3 personal income tax cuts explained, but beware, the impact will be less favourable than it would have been prior to the redesign.
Legislation enabling the small business energy incentive hit Parliament last week. The incentive is another broadly defined incentive to nudge behaviour, this time towards energy efficiency and “electrification.”
In 2019 the Government passed law to allow the ATO to disclose business tax debts to credit agencies.
